Ann: Significant Widths and Grades of Spodumene at Sandras, page-104

The way I figure it. Drilling at Grants has started to get the 1Mt inferred to indicated to complete our side of the preconditions for DSO. This gives CXO cash backing of 10c per share for every $50m of free cashflow. I expect about $100m from Grants. Also similar from BP33 after that. So thats 40c per share cash backing over the next few years even without finding the "big one". Less drilling/ running costs of $10m pa with a very aggressive drilling campaign still leaves a worst case 4 bagger just in cash backing re-rate alone in the next 3 years. No dilution.

Now we are not all here to make that piddley amount haha, but I am just highlighting worst case.

Traded AVZ three times, should have held. Missed ASN. Still got BGS,AGY and AJM.

Not selling this one. As I keep saying. The area has proven to not being barren of high grade lithium. We just have not found the big one. With worst case being 4 bags what will finding 20, 40, 80Mt do in a tier 1 jurisdiction. I am not going to guess or speculate (look at peers and you work it out). Just salivating at the thought.